Onix Renewable, Jindal India Renewable Energy, NTPC Renewable Energy, Kolar Solar Power (Rays Power Infra), ReNew Solar Power, and Adani Renewable Energy Holding Nine (Adani Green) won NHPC’s auction to set up 1,200 MW inter-state transmission system-connected solar power projects with a 600 MW/1,200 MWh energy storage systems (ESS).

Onix, Jindal, NTPC, and Kolar were awarded 100 MW, 180 MW, 300 MW, and 150 MW, respectively, at a tariff of ₹3.09 (~$0.0358)/kWh.

ReNew and Adani quoted ₹3.10 (~$0.0359)/kWh to win 300 MW and 170 MW, respectively.

The tender was floated in September 2024.

The project should be completed within 24-30 months from signing the power purchase agreement (PPA).

The solar projects must be implemented on a build-own-operate basis.

The minimum project size must be 50 MW (with a minimum ESS component of 25 MW/50 MWh) and in multiples of 10 MW. The cumulative capacity must not exceed 600 MW (with a minimum ESS component of 300 MW/600 MWh) without the greenshoe option and 1,200 MW with the greenshoe option.

However, for projects in the northeastern and Special Category states, bidders can quote a minimum of 30 MW (with a minimum ESS component of 15 MW/30 MWh).

NHPC will purchase and sell the solar power to the state utilities and others. An ESS of at least 0.5 MW/1 MWh capacity for 1 MW contracted capacity must be installed as part of the project.

NHPC will enter into a PPA with the selected bidders for 25 years. Bidders must quote a single tariff for the entire project’s capacity.

The project is technology-agnostic, and solar modules can be installed using crystalline silicon, thin film, or concentrated photovoltaic with or without trackers.

There will be no central financial assistance to implement the project.

The projects must have a minimum capacity utilization factor (CUF) within 10% and -15% of the declared value until the end of ten years from the commercial operation date for the supply of power in non-peak hours and within 10% and -20% of the declared value of the annual CUF after that until the end of the PPA.

Solar power generators can also source up to 5% renewable energy power annually from green market sources/bilateral agreements.

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